at January 1,2016,bob had accounts receivable of 31,000,and allowance for bad debts had a credit balance of 3,000.during the year, bob recorded the following:

a.sales of 174,000(157,000 on account;17,000 for cash).ignore cost of goods sold

b.collections on account,131,000

c.write-offs of uncollectable receivables,2,200

1.journalize bobs transactions that occurred during 2016.the company uses the allowance method.

2.post bobs transactions to the accounts receivable and allowance for bad debts t- accounts.

3.journalize bobs adjustments to record bad debts expense assuming bobs estimates bad debts as 3% of accounts receivable. post the adjustments to the appropriate t accounts.

4.show how bob will report net accounts receivables on its December 31,2016,balance sheet